Roc Targets Onshore Taranaki Prospect Previously Written Off

A well is planned for next year in the structure which lies directly between the McKee and Tariki fields onshore New Zealand. Roc Oil says a recent review of mud log data from the Totara-1 well drilled in 1987 shows the well may contain 25 m of previously unrecognized net gas pay in a structure believed to have a potential of 50 to 100 billion cubic feet of recoverable gas.

The company says its experience in developing and producing the Saltfleetby field, the largest onshore gas field in England, is directly relevant to the Taranaki project, as it was the company's review of the mud log data from an earlier "uncommercial" well at Saltfleetby in the U.K. that led to its development.

Roc Oil holds a 40% interest and is operator of the permit with partners Westech Energy New Zealand (30%), and Bridge Petroleum Ltd (30%).

Bruce Clement, the company's chief operating officer said a number of Roc's board members were involved in the mid-80s with a US independent involved in the discovery of the Aurora, Tariki and Waihapa fields close to the current permit.